SHW AG

EANS-News: SHW AG reports record figures for financial year 2011

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Financial Figures/Balance Sheet


Aalen (euro adhoc) - * Group revenues grow by 24.2 percent to EUR 360.6 million
between  January and December 2011
* Consolidated net income for the year climbed 25.8  percent  to  EUR  17.0
million
* Net bank debt reduced to EUR 8.6 million

Aalen, 15 February 2012. SHW AG, one of the leading suppliers  of  CO2-relevant
pumps and engine components  as  well  as  brake  discs,  today  presented  the
preliminary, unaudited key financial figures for the year 2011. After a  strong
Q4 2011, both Group revenues and consolidated net income for the  year  reached
new record levels.

Group revenues rose by 24.2 percent to EUR 360.6 million (previous year: EUR 
290.3 million). This increase is attributable to a multitude of production 
start-ups and the high  capacity  utilisation  of  the  existing  production 
facilities. Consolidated net income for the year climbed to EUR 17.0 million
(previous  year: EUR 13.5 million). Earnings per share amounted to EUR 2.93
(previous year: EUR 2.46). Between January and December 2011, Group operating
result before  interest  and taxes (adjusted EBIT) increased by EUR 3.4 million
to  EUR  26.2  million.  At  7.3 percent, the EBIT margin was below the previous
year´s 7.8  percent.  This  was mainly due to additional expenses incurred in
conjunction with the start-up of a large number of new production lines.

"This first fiscal year of SHW AG after the IPO was very successful," said  CEO
Dr. Wolfgang Krause, who is in  charge  of  the  Pumps  and  Engine  Components
business segment.

Further reduction in net liabilities to banks in spite of increased investments

Due to the large number of start-ups in the financial year 2011, investments  in
property, plant and equipment increased from EUR 7.5 million to  EUR  18.8 
million. At the same time, research and development costs rose by 38.4 percent
to  EUR  5.2 million (previous year: EUR 3.8 million).

"Despite those significant investments we have been able  to  generate  positive
free cash flow. This allowed us to reduce net bank debt from EUR 13.4  million 
to a low EUR 8.6 million," said Oliver  Albrecht,  CFO  of  SHW.  "The  equity 
ratio improved from 22.6 percent to 31.7 percent."

Strong growth in both business segments

Revenues in the Pumps and Engine Components business segment were  up  by  26.8
percent on the previous year  to  EUR  268.3  million  (previous  year: EUR 
211.6 million). Reporting a 25.6 percent increase  in  revenues,  the Passenger 
Car division benefited from the high demand for variable oil pumps  and 
start-stop pumps as well  as  numerous  production  start-ups. The Truck  &
Off-Highway division continued the strong growth of the previous quarters and 
boosted its revenues by 36.6 percent to EUR 31.7 million. Operating  result 
before  interest and taxes (adjusted EBIT) for the Pumps and Engine Components
business  segment climbed by EUR 3.6 million between January and December 2011
and  reached a new record level of EUR 26.7 million. The EBIT margin declined
from 10.9  percent to 10.0 percent due to increased start-up costs.

Revenues in the Brake Discs business segment rose by  17.2  percent  to  EUR 
92.2 million  (previous  year:  EUR  78.7  million).  This increase is  
primarily attributable to increased demand by one third for  processed  brake 
discs.  The business segment´s operating result before interest and  taxes 
(adjusted  EBIT) climbed EUR 0.2 million to EUR 0.8 million. "Indeed, we were
able to improve on  the previous year. Due to the higher coke prices and 
additional  expenses  for  the start-up of a new production line, operating 
margin  was  still  unsatisfying", said Andreas Rydzewski, member of the
Management Board  and  in  charge  of  the Brake  Discs  business  segment. 
"With  continued  good  capacity  utilization, however, we expect a further
increase in earnings in 2012."

Good start into the current fiscal year

The signs for the current financial year  are  promising.  "The  high  level  of
incoming orders in the fourth quarter of 2011 will support the continued  growth
of SHW in the first quarter of the  current  fiscal  year,"  said  Dr.  Wolfgang
Krause. "We are well positioned for the future as our products as  our  products
essentially contribute to the necessary reduction  of  CO2  emissions  of  motor
vehicles."

The entire financial statements for the year 2011 and the outlook  on  the  year
2012 will be published together with SHW´s annual report on 27 March 2012.


About SHW
The enterprise was established in 1365, making it one of the  oldest  industrial
enterprises in Germany. Today, the SHW Group  is  a  leading  supplier  for  the
automotive industry with  products  that  contribute  to  a  reduction  of  fuel
consumption and consequently CO2 emissions. In its Pumps and  Engine  Components
business segment, the SHW  Group  develops  and  produces  pumps  for  passenger
vehicles  and  truck  and  off-highway  applications,  e.g.  trucks,  farm   and
construction vehicles, stationary motors and  wind  power  stations.  The  Brake
Discs business segment develops and produces  monobloc  ventilated  brake  discs
made of cast iron and lightweight brake discs made  from  a  combination  of  an
iron friction ring and an aluminium pot. Customers  of  the  SHW  Group  include
leading producers of passenger cars and commercial vehicles  with  manufacturing
facilities in Europe and North America. The SHW  Group  has  four  manufacturing
sites in Germany, located in Bad Schussenried, Aalen-Wasseralfingen, Tuttlingen-
Ludwigstal and Neuhausen ob Eck. Via its 50 percent  interest  in  the  Canadian
company STT Technologies Inc., the company also has production sites  in  Canada
and Mexico. With more than 1,000 employees, the SHW Group  generated  approx. 
EUR 360  million  in  revenues  in  2011.  Further  information  is  available 
at: www.shw.de

Contact person
Michael Schickling
Head of Investor Relations & Corporate Communications
SHW AG
Telephone: +49 (0) 7361 502 462
Email: michael.schickling@shw.de

Future-oriented statements
This press release contains certain future-oriented statements  that  are  based
upon current assumptions and  forecasts  made  by  the  management  of  SHW  AG.
Various known and unknown risks, uncertainties and other  factors  may  lead  to
the actual results,  financial  position,  development  or  performance  of  the
company deviating considerably from the appraisals specified here.  The  company
assumes no obligation to update future-oriented statements  of  this  nature  or
adapt them to future events or developments.

Note
This announcement does not constitute an offer to sell securities in the  United
States  of  America,  Canada,  Australia,  Japan  or  any  other  jurisdictional
territory where offers are subject to  statutory  restrictions.  The  securities
named in this announcement may only be sold or offered for sale  in  the  United
States of America following their prior  registration  in  accordance  with  the
provisions of the version of the US Securities Act of 1933  currently  in  force
(the "Securities Act") or, without prior registration, only on the basis  of  an
exemption. Unless provided for by certain exceptions within the Securities  Act,
the securities named within this announcement may not be  sold  or  offered  for
sale in Australia, Canada or Japan, nor may they be sold or offered for sale  to
or for account of residents of Australia, Canada or Japan.  No  registration  of
the offer or sale of the securities named in this announcement will take  place,
as stipulated by the relevant statutory  provisions  in  Canada,  Australia  and
Japan. There is no public solicitation to buy securities in  the  United  States
of America.


Further inquiry note:
Michael Schickling
Head of Investor Relations & Corporate Communications
SHW AG
Telephone: +49 (0) 7361 502 462
Email: michael.schickling@shw.de

end of announcement                               euro adhoc 
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company:     SHW AG
             Wilhelmstrasse 67
             D-73433 Aalen
phone:       +49 7361 502-1
FAX:         +49 7361 502-674
mail:     ir@shw.de
WWW:      http://www.shw.de
sector:      Automotive Equipment
ISIN:        DE000A1JBPV9
indexes:     
stockmarkets: free trade: Düsseldorf, Stuttgart, regulated dealing/prime
             standard: Frankfurt 
language:   English
 



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